Computer-implemented risk evaluation systems and methods

a risk evaluation and computer-implemented technology, applied in the field of computer-implemented risk evaluation systems and methods, can solve problems such as complicated decision making processes

Active Publication Date: 2012-10-02
SAS INSTITUTE
View PDF3 Cites 102 Cited by
  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Problems solved by technology

The approval and pricing process for loans and insurance has evolved into a complicated decision making process.

Method used

the structure of the environmentally friendly knitted fabric provided by the present invention; figure 2 Flow chart of the yarn wrapping machine for environmentally friendly knitted fabrics and storage devices; image 3 Is the parameter map of the yarn covering machine
View more

Image

Smart Image Click on the blue labels to locate them in the text.
Viewing Examples
Smart Image
  • Computer-implemented risk evaluation systems and methods
  • Computer-implemented risk evaluation systems and methods
  • Computer-implemented risk evaluation systems and methods

Examples

Experimental program
Comparison scheme
Effect test

application example

Direct Response Application Example

Situations involving a direct response application can include:

[0288]1) New Account Acquisition

[0289]2) Inactive Account Stimulation

[0290]3) Retail Outlet CO-OP Promotion

[0291]4) Solo Direct Mail Merchandising[0292]A) Loans[0293]B) Insurance[0294]C) Goods[0295]D) Services

Objective Functions that can be Used within the Risk Evaluation System can Include:

[0296]1) Response

[0297]2) Approved Response

[0298]3) Higher Purchase Activity

[0299]4) Profitability

[0300]5) Heighten Consumer Awareness

[0301]A single or multistage risk evaluation and policy formulation system is constructed for each type of promotion having a specified goal. Given a properly designed test structure, this system will enable the user to isolate specific profiles which characterize the type of individual who is the most desirable to promote. Here the term profile refers to a set of variables associated with an individual which specify all of the information pertinent to the selection pr...

example 1

New Account Acquisition

[0313]Two objective functions are specified, namely response and high purchase activity. The first system will isolate profiles corresponding to those individuals who are most likely to respond to the promotion. After a required period of time a second system is developed which will identify those respondents who are most likely to have high purchase activity. Each system associates a response index and activity index, respectively, with every profile. Selection for future mailouts is then based on a function of these two sets of indices.

example 2

Inactive Account Stimulation

[0314]A subset of inactive accounts is promoted. The balance of inactive accounts serve as a control group. Promoted activation is observed along with spontaneous reactivation in the control. First a respond / no respond system is built which isolates respondent profiles and provides their corresponding response indices. Next, using suitable data transformations and multivariate estimation techniques, the extent of spontaneous reactivation in the promoted group is inferred from the control group. A second system is then constructed which forecasts the net response due to the promotion.

Detailed Credit Approval Example

[0315]In this detailed credit approval example, a component of a risk evaluation system is an action table which assigns a specific action for each individual applicant profile. Let us consider a one stage, six characteristic system for granting credit at XYZ Department Store. An action table corresponding to one of eighty-four possible policies...

the structure of the environmentally friendly knitted fabric provided by the present invention; figure 2 Flow chart of the yarn wrapping machine for environmentally friendly knitted fabrics and storage devices; image 3 Is the parameter map of the yarn covering machine
Login to view more

PUM

No PUM Login to view more

Abstract

Computer-implemented systems and methods are disclosed herein that relate to processes, which construct an empirically derived and statistically based risk evaluation and policy formulation system. For example, a process can be configured so as to accept as input an information base in computer readable form and produce either a single or multistage system composed of alternative decision making strategies.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This application claims priority to and is a continuation-in-part of U.S. Provisional Application Ser. No. 60 / 757,648, (entitled “Computer-Implemented Risk Evaluation Systems And Methods” and filed on Jan. 10, 2006) and U.S. application Ser. No. 11 / 651,914, (entitled “Computer-Implemented Risk Evaluation Systems And Methods” and filed on Jan. 10, 2007) now U.S. Pat. No. 7,610,257, and claims priority to U.S. Provisional Application Ser. No. 60 / 991,050 (entitled “Computer-Implemented Risk Evaluation Systems And Methods” and filed on Nov. 29, 2007), of which the entire disclosures (including any and all figures) of these documents are incorporated herein by reference.BACKGROUND AND SUMMARY[0002]The approval and pricing process for loans and insurance has evolved into a complicated decision making process. The scope of loans covered could include, but is not be limited to, credit card, overdraft checking protection, term loans, revolving cre...

Claims

the structure of the environmentally friendly knitted fabric provided by the present invention; figure 2 Flow chart of the yarn wrapping machine for environmentally friendly knitted fabrics and storage devices; image 3 Is the parameter map of the yarn covering machine
Login to view more

Application Information

Patent Timeline
no application Login to view more
Patent Type & Authority Patents(United States)
IPC IPC(8): G06Q40/00
CPCG06Q40/08G06Q40/025G06Q40/03
Inventor ABRAHAMS, CLARK RICHARDZHANG, MINGYUAN
Owner SAS INSTITUTE
Who we serve
  • R&D Engineer
  • R&D Manager
  • IP Professional
Why Eureka
  • Industry Leading Data Capabilities
  • Powerful AI technology
  • Patent DNA Extraction
Social media
Try Eureka
PatSnap group products

Browse by: Latest US Patents, China's latest patents, Technical Efficacy Thesaurus, Application Domain, Technology Topic.

© 2024 PatSnap. All rights reserved.Legal|Privacy policy|Modern Slavery Act Transparency Statement|Sitemap